How to Create and Share a Hyperliquid Referral Code
Risk warning. Trading perpetual futures and other leveraged crypto-asset products is high risk. A large share of retail traders lose money, so never trade with money you cannot afford to lose entirely. Disclaimer
Hyperliquid’s referral program pays real, recurring commissions, 10% of an invitee’s taker fees, for life, up to $1 billion in referred trading volume. It also requires a minimum trading volume before you can create your own code.
This guide is part of TradeOnDEX’s Hyperliquid how-to series within Perpetual Futures.
Disclosure: TradeOnDEX itself may earn a commission from links to Hyperliquid on this page, separate from the Hyperliquid referral program explained below. Full details at the end of this article.
How does the referral program actually work?
Two sides benefit, in different ways:
- New traders who enter a code before their first trade get a fee discount, a 4% reduction on trading fees, applied to the first $25 million of their trading volume.
- Referrers earn 10% of the taker fees generated by everyone who signed up under their code, for the lifetime of that trading relationship, up to $1 billion in referred volume.
This means for you, concretely: if you’re joining Hyperliquid, entering a code before you trade is free money you’d otherwise leave on the table. If you’re already an active trader, referring others creates an ongoing income stream tied to their activity, not a one-time bonus.
Using someone else’s referral code (as a new trader)
- Get a referral link in the form
app.hyperliquid.xyz/join/CODEfrom someone you trust, or apply a code directly in the referrals section before your first trade. - Connect your wallet and complete your first trade only after the code is applied, Hyperliquid does not apply discounts retroactively.
- Your fee discount applies automatically to your first $25 million in trading volume.
Creating and sharing your own referral code
- Build up $10,000 in trading volume on your account, this is a prerequisite before Hyperliquid lets you generate a custom code.
- Go to the referrals dashboard.
- Choose a custom code. Check it carefully: codes cannot be changed once created.
- Share your join link (
app.hyperliquid.xyz/join/YOURCODE) with other traders. - Track your accrued rewards in the referrals dashboard; rewards can be claimed once they exceed $1 and land in your spot balance.
Risk and honest trade-offs
A referral discount is not a reason to trade more than you otherwise would. A 4% fee reduction is real but small relative to the risk of a single leveraged position moving against you, it should never be the deciding factor in a trading decision.
Referral rewards do not apply to vault trades or sub-accounts, so if most of your activity happens through a vault, referral income from your own account will understate your actual trading volume.
Watch for “too good to be true” third-party referral sites. Because referral links are simple URLs, phishing clones that mimic legitimate referral pages are a documented risk pattern across DEXs generally, a referral link is not a reason to skip verifying you’re on the genuine app.hyperliquid.xyz domain.
A referral relationship creates a mild incentive misalignment worth naming honestly. Since referrers earn a share of their invitees’ fees, in principle a referrer benefits from an invitee trading more, not necessarily from the invitee trading well. This doesn’t make referral links harmful, but it’s worth knowing when someone recommends a platform with a code attached, including on this site (see the disclosure below).
Referrer vs. referred: what each side gets
| Referred trader | Referrer | |
|---|---|---|
| Benefit | 4% fee discount, first $25M volume | 10% of invitee’s taker fees, lifetime, up to $1B referred volume |
| Requirement | Enter code before first trade | $10,000 in own trading volume to generate a code |
| One-time or recurring | Effectively recurring (applies broadly to volume) | Recurring, tied to invitee’s ongoing activity |
See it for yourself
You can review the current referral terms and your own eligibility directly on the Hyperliquid referrals page.
Frequently asked questions
Can I apply a referral code after I’ve already started trading?
No. The discount only applies if the code is entered before your first trade, it cannot be applied retroactively.
Can I change my referral code after creating it?
No, codes are permanent once created, so choose carefully.
Do referral discounts apply to trading through a vault?
No, the discount and referral commission structure explicitly excludes vault trades and sub-accounts.
Is there a cap on how much a referrer can earn?
Commissions apply to the first $1 billion in trading volume referred through a given code; check current documentation for any updates to this cap before relying on it.
Affiliate disclosure
TradeOnDEX may earn a commission if you sign up or trade through a link on this page, at no extra cost to you, separate from, and in addition to, the Hyperliquid-native referral program described above. Hyperliquid’s own affiliate/referral terms are still being confirmed for this site, so links here are direct and untracked for now. This article is educational and is not financial advice. See our disclaimer for the full risk warning.
Risk warning
Trading crypto assets, and leveraged products based on them such as perpetual futures ("perps"), is high risk. A large share of retail traders lose money on these products. Leverage magnifies gains and losses alike and can push your loss beyond the amount you put in. Positions can be closed automatically (liquidation) before you get a chance to react, and some of the platforms we cover offer no negative balance protection.
Never trade with money you cannot afford to lose entirely. TradeOnDEX gives no investment advice, no personal recommendation, and no guarantee of any outcome. Every decision you make is your own decision and your own responsibility.